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FHFA RIN: 2590-AA43 Publication ID: Spring 2011 
Title: ●Credit Risk Retention 
Abstract: The Federal Housing Finance Agency (FHFA), along with the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Securities and Exchange Commission, and Department of Housing and Urban Development (the Agencies) are proposing regulations to implement the credit risk retention requirements of section 15G of the Securities Exchange Act (15. U.S.C. sec. 78o-11), as added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 15G generally requires the securitizer of asset-backed securities to retain not less than five percent of the credit risk of the assets collateralizing the asset-backed securities. Section 15G includes a variety of exemptions from these requirements, including an exemption for asset-backed securities that are collateralized exclusively by residential mortgages that qualify as "qualified residential mortgages," as such term is defined by the Agencies by rule. The FHFA regulations will cover only the securitization of residential mortgage assets. 
Agency: Federal Housing Finance Agency(FHFA)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 1234   
Legal Authority: 12 USC 4511(b)    12 USC 4526    12 USC 4617   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  04/29/2011  76 FR 24090   
NPRM Comment Period End  06/10/2011    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: www.regulations.gov; www.fhfa.gov   Public Comment URL: www.regulations.gov;  
RIN Data Printed in the FR: No 
Related Agencies: Joint: TREAS/OCC, FRS, FDIC, SEC, HUD; 
Agency Contact:
Eric Raudenbush
Associate General Counsel
Federal Housing Finance Agency
400 Seventh Street SW,
Washington, DC 20219
Phone:202 649-3084
TDD Phone:800 877-8339
Email: eric.raudenbush@fhfa.gov